April 11, 2018 —

Community Bank and Availa Bank enter into Merger Agreement

Nevada, Iowa (April 11, 2018) – During the annual shareholders meeting on April 10, 2018, the shareholders of Nevada Community Bancshares, Inc (“NCB”) approved the merger of NCB, with and into Carroll County Bancshares, Inc. (“CCB”), its parent company.  Merging the holding companies is the first step to merging Community Bank, NCB’s wholly-owned subsidiary, into Availa Bank, CCB’s wholly-owned subsidiary.  Merging the companies will streamline the corporate structure, improve efficiency, reduce costs and provide new services to Community Bank customers.  The transaction is subject to regulatory approval and is expected to close in the fourth quarter 2018.

Community Bank President and CEO Bob Butcher stated, “Since its inception on September 3, 1996, when Dan Engler and his team opened the doors of Community Bank for the first time, Carroll Co. Bancshares Inc., has been a committed owner and financial partner of our organization.  Over the years the bank has done very well in serving the needs of the Nevada and Holstein communities”.   Butcher stated members of both banks will work together to make the merger process and transition as seamless as possible for our customers.  The name will change to Availa Bank, but the same employees will be here to serve you.   The merger will also provide additional products and services such as Mobile Banking and Business Banking to Community Bank customers. 

Availa Bank President and CEO, Jeff Scharfenkamp, stated, “Community Bank has been an affiliate of Availa Bank since its inception, so both organizations know each other well.  Availa Bank operates in other agricultural based communities very similar to Holstein and Nevada and understands the importance of local decision making and support for the communities we serve”.    The merger will result in improved efficiency of our internal operations by combining two separate bank charters into one charter, allowing our staff to spend more time with our customers.

Availa Bank’s roots date back to 1870 when it was originally chartered.  Last year the bank adopted the Availa name to unify its branch locations under one name.  Availa is the first three syllables of the word available, a word that defines the bank’s mission — to always be available to customers, communities and employees with competitive products and responsive service.  Jeff Scharfenkamp will be the President and CEO of the merged bank and Bob Butcher will oversee the former Community Bank locations as Market President.